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LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2022 and 2023 Gross sales Sales returns and allowances Net sales Cost of merchandise (goods)
LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2022 and 2023 Gross sales Sales returns and allowances Net sales Cost of merchandise (goods) sold Gross profit Operating expenses: Depreciation Selling and administrative Research Miscellaneous Total operating expenses Income before interest and taxes Interest expense Income before taxes Provision for taxes Net income \begin{tabular}{rr} \multicolumn{1}{l}{2023} & \multicolumn{1}{c}{2022} \\ $23,800 & $18,600 \\ 1,000 & 100 \\ \hline$22,800 & $18,500 \\ 10,800 & 7,200 \\ \hline$12,800 & $11,300 \\ \hline$1,180 & \\ 5,800 & 4840 \\ 1,030 & 740 \\ 840 & 540 \\ \hline 8,850 & $6,520 \\ \hline$3,150 & $4,780 \\ 1,040 & 740 \\ \hline$2,110 & $4,040 \\ 844 & 1,616 \\ \hline$1,266 & $2,424 \end{tabular} Calculate the current ratio. Note: Do NOT enter your answer as a percentage (i.e., do not move the decimal two places to the rounded to the nearest hundredth
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